Orange County NC Website
Browse       Search
3 <br />Conservation Easements Capital Project Ordinance <br />5. At its ~ September 12, 2006 meeting, the Board of County Commissioners approved the <br />acceptance of an .agricultural conservation easement related to the 92-acre McKee Farm <br />property. The closing on the property is scheduled to occur in September 2007 at a cost of <br />approximately $612,000. Of this amount, $273,161 will be reimbursed by the federal Farm <br />and Ranch Land Protection Program. The County's share of $338,839 comes from <br />alternative financing for conservation easements previously approved by the Board of <br />Commissioners. <br />6. At its March 27, 2007 meeting, the Board of County Commissioners approved the purchase <br />of and acceptance of an agricultural conservation easement for the 138-acre Latta Dairy <br />Farm property. The closing of the property was scheduled for August 31, 2007 at a cost of <br />$601,400. Of this amount, $300,000 will be reimbursed by the federal Farm and Ranch <br />Land Protection Program. The County's share of $301,400 comes from alternative financing <br />for conservation easements previously approved by the Board of Commissioners. <br />This budget amendment provides for the updated Conservation Easements Capital Project <br />Ordinance to reflect these funding sources. (See Attachment 3, Conservation Easements <br />Capital Project Ordinance) <br />FINANCIAL IMPACT: Financial impacts are included in the background information above. <br />RECOMMENDATION(S): The Manager recommends that the Board of County Commissioners <br />approve the attached budget ordinance and capital project ordinance amendments. <br />